PM visits €30m. Strada Stretta investment
Prime Minister Dr Joseph Muscat visited the Strada Stretta Project in Valletta, an area which is being restored with an investment of €30 million and will eventually employ over 200 people. The project run by VBL Group will consist of high quality bars and restaurants, includes accommodation facilities. The project will be completed by next year when Valletta assumes its role as Europe’s Centre of Culture.
The VBL Group comprising local and foreign investment is carrying out an extensive project to give a new lease of life to Strada Stretta which in past years was Malta’s entertainment mecca with a scope of regenerating it afresh. During the Prime Minister’s visit Group General Manager Andrei Imbroll explained that old bars – previous favourite haunts of British services personnel – are being converted into nine luxury bars and restaurants, including a building that is being converted into a boutique hotel.
Imbroll said that all the old bars will be renovated and re-opened but will retain the same names but will have the best bars and restaurants in Malta and will also have a cultural aspect.
He said these will have a cultural element providing entertaining music and poetry and book reading sessions and these will restore and embellish the street and make it a beacon of culture.
The Prime Minister also visited other projects that will be completed in time for Valletta 2018, including the MUŻA Project that will provide greater interactivity at the Auberge d’Italie in Triq Merkanti providing space for interesting public activities as well as an arts museum. Heritage Malta officials said the project will provide a free space to enable the community and the arts to mingle and become one.
Another project for Valletta 2018 is that of the renovation of the old Valletta Market which is being undertaken by the Arkadia Group with an investment of €10 million. Group General Manager Antoine Portelli said that when re-opened the project will include commercial and cultural activities of a high level based on the activities of similar markets to be found in Barcelona and Madrid in Spain.